Enforcement of Collateral. 5.1 Galaxy International Securities has the right without prior notice or consent from the Client, to dispose of or otherwise deal with any part of the Collateral in its absolute discretion when any amount in the Securities Margin Account has become due and payable. In the event of any deficiency after disposal of the Collateral, the Client shall make good and pay on demand to Galaxy International Securities such deficiency.
5.2 Cash in the Securities Margin Account and any proceeds from the disposal of Collateral shall be applied in the following order: (a) in payment of all costs, charges, legal and other fees and expenses including stamp duty, commission and brokerage properly incurred in transferring or perfecting title of any part of the Collateral; (b) in payment of the interest for the time being accrued and due; (c) towards the payment of the amount due (other than the interest) under the Securities Margin Account; (d) towards the payment of all or part of the amount due by the Client to any member of the China Galaxy International; and (e) the residue, if any, shall be paid to the Client or his order.
5.3 Galaxy International Securities may resort to other means of obtaining payment or securing performance as it thinks fit without affecting the security created herein.
5.4 The Client shall pay or reimburse Galaxy International Securities immediately upon demand all costs, charges and expenses incurred by Galaxy International Securities in connection with the enforcement of or the preservation of any of the rights of Galaxy International Securities under the Securities Margin Account including but not limited to the legal fees and collection expenses incurred by Galaxy International Securities on a full indemnity basis.
Enforcement of Collateral. In remedies which Holder has hereunder or by law, upon Default, Holder shall have the right to enforce its rights in the Collateral by giving notice of the Default to Borrower and foreclosing on the Collateral.
Enforcement of Collateral. (a) The Collateral shall be enforced by the Collateral Agent in the name and for the account of the Pledgees.
(b) The Collateral Agent shall enforce the Collateral and exercise any of the remedies with respect thereto upon receipt of an Enforcement Notice directing it to do so (for the avoidance of doubt, subject to its right to enforce or exercise any remedy having arisen under the terms of this Agreement).
(c) Upon receipt of an Enforcement Notice, the Collateral Agent shall commence with and initiate such measures as the Collateral Agent may deem appropriate, necessary or advisable for the enforcement of all or part of the Collateral or exercise any other remedies with respect thereto (for the avoidance of doubt, subject to its right to enforce or exercise any remedy having arisen under the terms of this Agreement).
(d) The Pledgees and the Collateral Agent hereby acknowledge and agree that:
(i) no Pledgee shall exercise any independent power to enforce any of the Collateral or to exercise any rights, remedies, discretions or powers or to grant any consents or releases or otherwise have direct recourse to any of the Collateral;
(ii) no Pledgee shall be entitled to act individually to require the Collateral Agent to take any action or proceedings under or in relation to this Agreement or to exercise any of the rights, powers or discretions conferred on it by this Agreement, other than in their capacity as Required Pledgees;
(iii) notwithstanding anything to the contrary herein, to the extent that this Agreement requires any notice, consent, direction or instruction to be given by the Pledgees, such notice, consent, direction or instruction may be given by the Required Pledgees and, if given by the Required Pledgees, shall be binding on all the Pledgees; and
(iv) the pledges created hereunder shall be treated as ranking pari passu.
(e) From time to time after the occurrence of events entitling the Pledgees to enforce the Share Pledge pursuant of Clause 8.1 hereof, where time and circumstances do not permit the Collateral Agent to consult or obtain the consent of the Pledgees, it may, in accordance with the provisions of the Loan Agreement, proceed (but shall not be obliged to do so) in its absolute discretion to protect and enforce the rights vested in it pursuant to this Agreement, provided always that it shall advise the Pledgees of any action it has taken as soon as possible thereafter.
Enforcement of Collateral. Upon the Term Loan becoming due and payable, whether automatically or by declaration, the Required Lenders may direct the Collateral Trustee to take any and all action with respect to the Collateral permitted under the Loan Documents, at law, in equity or otherwise, including, without limitation, to foreclose upon any or all of the Collateral and to draw under the Letter of Credit to the extent permitted to do so under the terms thereof.
Enforcement of Collateral. This Indenture and the Security Documents shall be subject to the Intercreditor Agreement (and any Additional Intercreditor Agreement).
Enforcement of Collateral. 8.1 Following the occurrence of an Event of Default and, in addition, if and when the requirements of Section 1204 et seq. of the German Civil Code (BGB) (Pfandreife) are met in respect of the Secured Obligations (or any part thereof) (an Enforcement Event), the Pledgees, acting through the Facility Agent, shall be entitled, after having given one week's notice to the Pledgor, to avail themselves of all rights and remedies of a pledgee (Pfandgläubiger) hereunder without prior court ruling and released from Section 1277 of the German Civil Code (BGB). However, the Pledgees will only make use of their rights to the extent necessary to cover the Secured Obligations.
8.2 In the case of the occurrence of an Enforcement Event, the Pledgees, acting through the Facility Agent, shall in particular be entitled to
(a) collect the monies standing to the credit of the Pledged Accounts;
Enforcement of Collateral. 5.1 Without prejudice to any other rights under these terms or in law, the Company has the right without prior notice or consent from the Client, to dispose of or otherwise deal with any part of the Collateral in its absolute discretion and/or to terminate the Margin Account and to cancel any Facilities granted to the Client and/or any the Client’s outstanding orders when any amount in the Margin Account has become due and payable or the Client fails to maintain the required level of margin. In the event of any deficiency after disposal of the Collateral, the Client shall make good and pay on demand to The Company such deficiency.
5.2 Cash in the Margin Account and any proceeds from the disposal of Collateral shall be applied in the following order :
a) in payment of all costs, charges, legal and other fees and expenses including stamp duty, commission and brokerage properly incurred in transferring or perfecting title of any part of the Collateral;
b) in payment of the interest for the time being accrued and due;
c) towards the payment of the amount due (other than the interest) under the Margin Account;
d) towards the payment of all or part of the amount due by the Client to the Associates of the Company; and
e) the residue, if any, shall be paid to the Client or his order.
5.3 The Company may resort to other means of obtaining payment or securing performance as it thinks fit without affecting the security created herein.
5.4 The Client shall pay or reimburse the Company immediately upon demand all costs, charges and expenses incurred by the Company in connection with the enforcement of or the preservation of any of the rights of the Company under the Securities Margin Account including but not limited to the legal fees and collection expenses incurred by the Company on a full indemnity basis.
Enforcement of Collateral. 8.1 Following the occurrence of an Event of Default and, in addition, if and when the requirements of Section 1204 et seq. of the German Civil Code (BGB) (Pfandreife) are met in respect of the Secured Obligations (or any part thereof) (an Enforcement Event), the Pledgees, acting through the Facility Agent, shall be entitled, after having given one week's notice to the Pledgor, to avail themselves of all rights and remedies of a pledgee (Pfandgläubiger) hereunder without prior court ruling and released from Section 1277 of the German Civil Code (BGB). However, the Pledgees will only make use of their rights to the extent necessary to cover the Secured Obligations.
8.2 In the case of the occurrence of an Enforcement Event, the Pledgees, acting through the Facility Agent, shall in particular be entitled to
(a) collect the monies standing to the credit of the Pledged Accounts;
(b) request that all documents relating to the Pledges be handed over to the Facility Agent and the Pledgor hereby agrees to comply promptly with any such request; and
(c) take any other actions not mentioned in clauses (a) and (b) above which are necessary or appropriate for the purpose of realising the security granted by the Pledgor in accordance with this Account Pledge Agreement, to the extent that such actions are permissible under the applicable law and not restricted by any other Loan Document.
8.3 The Facility Agent shall apply such amounts in accordance with the provisions of the Credit Agreement and the other Loan Documents.
Enforcement of Collateral. In addition to any other remedies which Xxxxxx has hereunder or by law, upon Default, Xxxxxx shall have the right to enforce its rights in the Collateral by giving notice of the Default to Borrower and foreclosing on the Collateral.
Enforcement of Collateral. 10.1 West Bull Securities has the right without prior notice or consent from the Client, to dispose of or otherwise deal with any part of the Collateral in its absolute discretion when any amount in the Securities Margin Account has become due and payable. In the event of any deficiency after disposal of the Collateral, the Client shall make good and pay on demand to West Bull Securities such deficiency.
10.2 Cash in the Securities Margin Account and any proceeds from the disposal of Collateral shall be applied in the following order: (a) in payment of all costs, charges, legal and other fees and expenses including stamp duty, commission and brokerage properly incurred in transferring or perfecting title of any part of the Collateral; (b) in payment of the interest for the time being accrued and due; (c) towards the payment of the amount due (other than the interest) under the Securities Margin Account; (d) towards the payment of all or part of the amount due by the Client to West Bull Securities; and (e) the residue, if any, shall be paid to the Client or his order.
10.3 West Bull Securities may resort to other means of obtaining payment or securing performance as it thinks fit without affecting the security createdherein.
10.4 The Client shall pay or reimburse West Bull Securities immediately upon demand all costs, charges and expenses incurred by West Bull Securities in connection with the enforcement of or the preservation of any of the rights of West Bull Securities under the Securities Margin Account including but not limited to the legal fees and collection expenses incurred by West Bull Securities on a full indemnity basis.
